Lagos Gov Sanwo-Olu Calls For Monthly Payment Of House Rent

Lagos Gov Sanwo-Olu Calls For Monthly Payment Of House Rent

Stakeholders in real estate have been called by the Lagos State Government to work out modalities for residents to pay house rents on a monthly basis instead of an annual payment.

Governor Babajide made this call Sanwo-Olu during the Policy Roundtable Dialogue with key stakeholders in the Real Estate Sector in Lekki on Thursday.

The Lagos State Real Estate Regulatory Authority (LASRERA organized the roundtable).

According to Sanwo-Olu, a situation where residents face pressure once their rents were due was not palatable.

He also noted that the housing deficit in Lagos State seems huge and urged private practitioners to play by the rules.

”The real estate can contribute 20 to 25 percent to the GDP.

We need to have clear data where landlords would no longer be demanding one year rent ahead.

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” Landlords should see how they can reduce yearly rent to monthly.

The housing deficit in Lagos is huge and unacceptable,

but the government cannot do it alone,” Sanwo-Olu said.

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